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Mortgage Rate Holds in 2022 A mortgage rate hold allows you to request a reservation on an interest rate for a stated period, while renewing, refinancing, or applying for a mortgage. Mortgage rate holds give prospective homeowners the ability to get the best mortgage...
All About Variable Rates Variable rates are based on Prime Rate and the Bank of Canada’s overnight rate, can cause fluctuating or static payments. These payments have cheaper penalty when breaking your mortgage. The banks generally change their prime rates a few days...
Increase of Prime Rates – What Does This Mean? With the increase of prime rates over the last few months, there’s a lot in question. Many people are questioning if they should have a fixed rate mortgage or a variable rate mortgage. There are many factors to consider...
Trigger Mania During a time of fluctuating interest rates and various economical concerns, brokers at GLM Mortgage Group want to educate and support clients in understanding what may happen with rates over the coming months, and outline any cause for concern, if any....
In recent weeks the fears of rising interest rates and a dooming recession being upon us is something that is catching the eye of Canadians country wide. The Bank of Canada rate increased in the beginning of July after a big inflation increase in June that saw...
Stress Free Switch/Renewal Overtime, the mortgage switch/renewal market is much larger, and lower stress, than the purchase market. There’s no pressure, subject free offers or down payment documents to deal with. No need to worry about tight timelines, and often...
Trigger Rates & Trigger Points It is no secret that interest rates are continuing to rise. The Bank of Canada has done a super-sized rate increase the past few times with interest rates increasing by half a point or more. Many people who are in a variable-rate...
Steps and Documents Required for Pre-Approval When looking into getting a mortgage, you may also wonder, what are the most important pieces to getting pre-approved? Before getting pre-approved, you’ll have to, know the maximum amount of the mortgage you can qualify...
Real Estate is always a great conversation starter. Earlier this year we did a blog on the statistics of first time home buyers and the challenges that come with being a first time home buyer. Today we are going to discuss the reasons why getting into the market is...
Mortgage Refinancing For Pensioners Refinancing Your Home Investment in BC means that you are simply replacing your existing mortgage with a new mortgage on different terms. There are three options to refinancing, a traditional mortgage, Home Equity Line of Credit...
GLM Mortgage Group Workflow Process At GLM Mortgage Group (powered by Dominion Lending Centres) we pride ourselves in providing excellent customer service and responding to phone calls, texts, and emails within 90 minutes. The process with GLM Mortgage Group is...
Fixed vs Variable Rates Today As you may have noticed, rates have been increasing due to inflations. This leads people to go back and forth with if they should go with a fixed rate or a variable rate. In this blog, we will go through both rates and which rate would be...